Press Release

Mellon Financial ranked the number one global custodian in North America in the 2007 R&M Global Custody Survey

The Mellon Group’s overall performance has climbed upwards for seven consecutive years

Toronto, March 7, 2007 - Mellon Financial Corporation, for the third consecutive year, is the number one provider of global custody services in North America in the annual R&M Survey. The Mellon Group worldwide custody providers - Mellon Global Securities Services, ABN AMRO Mellon, and CIBC Mellon - overall ranked second in the survey which is based on feedback from its clients and asset managers.

Highlights of the Mellon Group's performance include:

• Number one ranking overall in North America
• Number one ranking overall as rated by clients with assets of more than $10 billion
• Number two ranking overall as rated by Asset Owners (e.g., pension funds)

“Once again we are extremely pleased to be recognized as the number one provider of global custody services in North America,” said Thomas C. MacMillan, CIBC Mellon president and chief executive officer. “These results are a testament to the strong reputation that we have built in the market for delivering a high calibre of service and products”.

Workbench, the group’s real time browser-based information delivery product, was singled out by one respondent who commented that “Mellon’s online access and information is the most user-friendly of the ones that I have used.”  While others complimented the strength of the group’s client service model noting that, “Our contacts at Mellon go above and beyond to accommodate our needs so our mutual clients see a seamless operation.  Mellon is a solid custodian who listens and acts accordingly - supported by investment manager forums and review meetings”.

The R&M Survey is based on feedback from investment managers, pension funds and other institutional global custody clients. The 2007 survey collected more than 1,000 responses worldwide and asked participants to rate providers across several service categories.  Scores in each of the service categories were combined to produce an overall ranking.  This year, 31% of the respondents were from North America.

CIBC Mellon is a 50-50 joint venture between Canadian Imperial Bank of Commerce and Mellon Financial Corporation.  CIBC Mellon Global Securities Services Company is a leading provider of custody services including global custody, multicurrency accounting, information delivery, securities lending and foreign exchange services in Canada.  CIBC Mellon is part of The Mellon Group (CIBC Mellon, ABN AMRO Mellon Global Securities Services and Mellon Global Securities Services), which has more than US$5.5 trillion in assets under management, administration or custody, including US$995 billion under management.   CIBC Mellon Global Securities Services Company is a sister company to CIBC Mellon Trust Company.

-30-

Contact:  Cheryl Ficker, director, corporate affairs, CIBC Mellon 416-643-6368